Economy News

The SMG to Select Small-but-powerful Seoul-type Businesses

The Seoul Metropolitan Government plans to explore optimal SMEs for young people to work for and will strive to enhance the quality of workplaces by linking SMEs with qualified young people.

The SMG intends to select roughly 200 SMEs in June 2016 first and certify those qualified as small-but-powerful SMEs by September. SMEs that can apply are those in Seoul and certified for the purpose mentioned by the SMG or ministries of the central government, or those that have signed an agreement with the SMG to cooperate with the SMG in job-related policies. The certification will be made based on their overall quality, efforts for creation of jobs, particularly for young people, and how much they cooperate with the SMG in job support programs.

For those selected, the SMG pays a 1,000,000 won per month for up to 10 months and up two employees on the condition that the newly employed stay on the job for at least three months. The SMG will also strive to help the businesses foster a youth-friendly work environment. After a given period, the SMG will select 100 small-but-powerful SMEs based on the following factors: ▴ an increase in employment rate, ▴ an increase in sales, ▴ support for employees’ self-development, ▴ implementation of Family Day, and ▴ implementation of maternity leave and other benefits.

The SMG will issue a letter of certification for the selected businesses, have officials in charge explore jobs suited for young people, and help the businesses solve their management-related problems. The selected businesses will enjoy the following support: financial support for employment, aid in publicizing, and exemption from local tax audits for four years.